Crypto-finance company Amber Group valued at $1B following $100M raise

Cryptocurrency funding platform Amber Group has added $100 million to its coffers following a profitable Sequence B fundraiser, bringing its whole pre-money valuation to $1 billion — a significant milestone for the agency because it enters its fourth 12 months of operations. 

The money injection will likely be used to “broaden international operations to satisfy shopper demand and develop market options for the world’s main crypto buyers and firms,” co-founder and CEO Michael Wu mentioned.

Measures of commerce quantity and whole property underneath administration showcase Amber Group’s vital development over the previous 4 years. The corporate now has over $1 billion in property underneath administration, with greater than $500 billion value of cumulative commerce volumes.

“We’ve had report months over the previous quarter throughout each shopper circulate and on-exchange market-making volumes,” Wu mentioned, including:

“Since stepping up our on-screen presence, we now account for 2-3% of whole buying and selling volumes in main spot and spinoff markets and are persevering with to see development. Our cumulative buying and selling volumes have doubled from $250 billion for the reason that starting of the 12 months to over $500 billion.”

By way of notional commerce quantity, Amber Group ranks twenty first amongst international exchanges, in line with BitMEX knowledge.

Amber’s property topped $530 million in 2020, representing a 275% enhance from the prior 12 months. On the time, Wu instructed Cointelegraph that his firm has “already confirmed we will present institutional-grade built-in crypto monetary providers.”

Along with its Sequence B backers, Amber Group has obtained direct funding from a few of blockchain’s greatest enterprise funds, together with Pantera Capital, Coinbase Ventures and

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